Ilmarinen Mutual Pension Insurance Co Buys Shares of 90,271 Chubb Limited (NYSE:CB)

Ilmarinen Mutual Pension Insurance Co purchased a new position in shares of Chubb Limited (NYSE:CB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 90,271 shares of the financial services provider’s stock, valued at approximately $24,942,000.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Chubb during the 4th quarter worth $1,169,720,000. Raymond James Financial Inc. purchased a new stake in Chubb during the fourth quarter valued at about $1,158,897,000. GQG Partners LLC boosted its position in Chubb by 36.3% during the fourth quarter. GQG Partners LLC now owns 4,429,720 shares of the financial services provider’s stock worth $1,223,932,000 after purchasing an additional 1,178,628 shares during the period. Beutel Goodman & Co Ltd. increased its stake in shares of Chubb by 1,007,698.0% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 1,007,798 shares of the financial services provider’s stock worth $278,454,000 after purchasing an additional 1,007,698 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its stake in shares of Chubb by 41,494.7% in the fourth quarter. Proficio Capital Partners LLC now owns 812,761 shares of the financial services provider’s stock worth $224,566,000 after purchasing an additional 810,807 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.

Chubb Trading Down 7.2 %

Shares of CB opened at $280.74 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.25 and a quick ratio of 0.28. Chubb Limited has a 1-year low of $238.85 and a 1-year high of $306.91. The company has a market capitalization of $112.41 billion, a P/E ratio of 12.36, a P/E/G ratio of 3.36 and a beta of 0.66. The firm’s 50 day simple moving average is $282.25 and its 200 day simple moving average is $281.81.

Chubb (NYSE:CB) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.33 by $0.69. Chubb had a net margin of 16.63% and a return on equity of 13.75%. Sell-side analysts forecast that Chubb Limited will post 21.52 earnings per share for the current fiscal year.

Chubb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Friday, March 14th. Chubb’s payout ratio is currently 16.02%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. HSBC upgraded shares of Chubb from a “hold” rating to a “buy” rating and set a $323.00 price target on the stock in a research note on Wednesday, March 5th. JMP Securities restated a “market outperform” rating and set a $325.00 target price on shares of Chubb in a research report on Wednesday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 price target on shares of Chubb in a research report on Thursday, January 30th. Wells Fargo & Company decreased their price objective on Chubb from $268.00 to $264.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised their target price on Chubb from $296.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $303.14.

Insider Activity

In related news, CAO George F. Ohsiek sold 763 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $290.41, for a total transaction of $221,582.83. Following the transaction, the chief accounting officer now owns 20,044 shares of the company’s stock, valued at approximately $5,820,978.04. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph F. Wayland sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $286.96, for a total transaction of $2,869,600.00. Following the completion of the sale, the executive vice president now directly owns 77,703 shares of the company’s stock, valued at $22,297,652.88. This represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,470 shares of company stock worth $18,562,730. 0.86% of the stock is currently owned by insiders.

Chubb Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.